Juggernaut Exploration Ltd. — Capital/Financing Update 2020

Mar 6, 2020

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JUGGERNAUT CLOSES FIRST TRANCHE OF NON-BROKERED FINANCING

Vancouver, British Columbia – March 5, 2020 – Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the “Company” or “Juggernaut”) is pleased to announce that further to its February 28, 2020 news release it has received conditional approval from the TSX Venture Exchange (the “Exchange”) and has closed the first tranche of its $0.28 flow-through unit and $0.20 hard-dollar unit financing for gross proceeds of $225,000.

At the close of the first tranche the Company has issued 120,000 $0.28 flow-through units (“FT Units”), each FT Unit being comprised of 1 flow-through common share of the Company and 1 common share purchase warrant, each warrant being exercisable for an additional common share of the Company at $0.56 for 12 months, subject to the right of the Company to accelerate the exercise period to 30 days should the closing price of common shares of the Company be at or above $1.12 for 10 consecutive trading days.

The Company has also issued 957,000 hard-dollar units (“Units), each Unit being comprised of 1 common share of the Company and 1 common share purchase warrant, each warrant being exercisable for an additional common share of the Company at $0.40 for 24 months, subject to the right of the Company to accelerate the exercise period to 30 days should the closing price of common shares of the Company be at or above $0.80 for 10 consecutive trading days.

In accordance with TSX Venture Exchange policies, finders’ fees cash commission of $7,740 have been paid and 1,200 flow-through unit broker-warrants and 37,020 hard-dollar unit broker-warrants have been issued.

Funds from the financing will be used for mineral project exploration and general working capital purposes.

All securities issued pursuant to the offering (including warrants issued to finders), as well as any shares issued pursuant to the exercise of warrants, will be subject to a four-month hold period from the closing date.

For more information please contact:

Juggernaut Exploration Ltd.

Mr. Dan Stuart

President and Chief Executive Officer Tel: (604) 559-8028 dan@juggernautexploration.com www.juggernautexploration.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.